Morgan Stanley: The design of GB300 has changed, and the AI supply chain will undergo transformation accordingly

Author: Li Xiaoyin Source: Hard AI The upcoming NVIDIA GB300 is expected to have key changes in hardware design, potentially setting new specifications for AI hardware. Morgan Stanley analysts Sharon Shih, Howard Kao, and others stated in a research report released on January 6 that NVIDIA's next-generation AI GPU GB300 may see significant hardware specification changes, with shipments expected to begin in the fourth quarter of this year. The report indicates that the hardware design of the GB300 may have been adjusted mainly in the following areas: Introduction of GPU slots: NVIDIA plans to introduce a slot design for the upcoming second-generation Blackwell B300 series processors, replacing the traditional surface mount technology (SMT). This move aims to improve low production yield issues (currently, the yield for Wistron computing boards is 80%, while UBB's yield exceeds 90%) and enhance maintainability. The initial slots will be supplied by FIT, with Lotes potentially introduced as a second supplier in the future. Addition of cold plate modules: With the adoption of GPU slots, new cold plate modules may be designed individually for each GPU/CPU and use a new, smaller NVQD to replace the UQD (quick-change connector) design in the GB200. Major suppliers include Cooler Master and AVC Group, with Fositek, FII, and Lotes also likely to benefit. Higher power supply modules: Independent power racks are expected to be introduced to meet higher reliability and power demands. The power units for the GB300 will support 10kW and 12kW, suitable for 60kW and 72kW power racks, depending on rack compatibility, production validation, and reliability testing. Morgan Stanley expects that the hardware specification updates will be completed by early Q2 this year, and after successfully passing tests, will be shipped in bulk in Q4. In addition to hardware updates, the report also anticipates an increase in the value of ODM (Original Design Manufacturer) during the production process of the GB300 series. The report states that compared to the GB200, NVIDIA will reduce its involvement in the mechanical component design of the GB300, which will give ODMs more design space. ODMs can provide customized design services for hyperscalers, potentially enhancing their profit margins.